Sunday, December 15, 2019

Budget for 2020 and major projects still do to 209

I will start with the major projects still to do

caulking of 12 rooms

air barrier in 2 attics

deck railing (I want to grow herbs on the deck) and ramp

Awning over French doors on deck

more gravel to extend and widen the driveway and add to the parking area for the trailers

Build a removeable box for flat bed trailer (be nice if carrying things that shouldn't get wet)

front porch needs leveled, new posts, railing, banister at concrete steps( or ramped) and wood floor replaced along with painted

kitchen porch needs leveled, new posts, railing, banister at concrete steps and wood floor replaced along with painted. Two ceiling fans already bought need installed after painted.

back stoop to the mudroom door needs widened as you have to step back to open the door to come in.

gate at fence to enter ramp on the deck needs installed

basement ramp and the drainage pipe at that area needs redone

Redesign the gardens

replace 16 windows

side entire home

side barn porch

install lights in dog kennel area of barn (that dogs very seldom go in but if I had to take my daughters dogs for some reason they would love it)

install lights in garage section of barn where the tractor, lawn mower etc is stored

install closets and storage items in house.

continue to clear barn of boxes and extra furniture

We chose the following for this year:

caulking of 12 rooms ( I have half the caulking bought)

air barrier in 2 attics (just need staples)

deck railing with a note I want to grow herbs on the deck railing (I have part of what is needed for the railing)

gate at fence to enter ramp on the deck. Need to buy post and gate.

basement ramp and the drainage pipe at that area needs redone. All needs bought

Redesign the gardens.(need potting soil for grow pots and sq ft and boards for sq ft gardens

install closets and storage items (98% is in barn)

continue to clear barn of boxes and extra furniture.(freebie just tons of work and time)

We are doing cost estimates for these projects to know how much we need to save to get them done.

Now for the budget. Hubby turns 62 this year. Thoughts of living on only social security *which is really only meant to replace 40% of your income during retirement* is what we looked at.

Five times in 2019 I have changed the budget
1/1/2019 $8794
8/1/2019 $6123
9/12/2019 $5883
12/1/19 $ 5062.50

I went on social security and pulled what Hubby would get at 62 and then at the beginning of next year myself . Living on the budget I set for this coming year. We would be short the medical and would have to pull that amount from the IRAs' and that is a lot less than what we are pulling now and would make it last 3 times as long as now. Hubby would like to have his truck paid off or at least half off before pulling SS.I don't see that happening  along with the projects.

It also lets me know how much must be in the savings to cover us between him starting SS and me starting SS.

 That really is not a bad scenario since we don't count on his hobby to pay anything He has declined several jobs as he doesn't want a business, doesn't want the headache of paper work even though he has to keep track of some of it for a hobby, just something to have purpose in his days. He enjoys the travel but limits that as he wants to be home to sleep in his own bed.

I think the no spend month with written down exceptions is going to continue in to 2020 but with the line of do you want to draw SS or keep drawing the IRA  ? to push us to be more conscious of our choices.


  1. What does your financial planner say about your money lasting long term? My husband and I both come from a long line of family members who lived to be well into their 90's. In the next few years we are going to need to move our money to something that earns more than our current situation or we will be really tight at the end of our lives. I don't know of many who are retired and have the monthly income that you do even in December. We don't but our house is paid off so we are fine and have plenty. But in 6 months my health insurance goes away and we can not replace it. I will have to wait for Medicare.

  2. Do go on line and price health ins next fall when the open enrollment date is. My daughter got hers when she had none through work and said it was cheaper than what she paid at work when she was working full time and not through a temp service
    our financial planner says that with the rising cost of health care and the stock market going down pretty much most of middle class will have problems making the bills. We have 10 more months of our health ins in a RRA and 3 yrs before Medicare. We have a truck payment and a large mortgage... BUT the home is set up so we don't have to go to a nursing home. Nursing home today costs $ IF one of us can stay out of the nursing home for 4 yrs passed when we would have went in if We hadn't spent the money to change the house then the cost of the house was worth those 4 yrs. If both of us went in 2 yrs in the nursing home would equal what we spent to get this home this way. Hubby's family had several in the 100's , mine the women 2 generations ago died before 60, Mom was the only one to make it to 80. Her younger siblings all died before 70.Over half my female cousins have already passed and I will be 61 in Jan. I already buried 4 brothers.

    We don't mind being tight in our old age as we are trying to be tight NOW.

  3. Insurance for me is minimum $800 monthly for five years. Not cost effective for someone as healthy as a horse and who uses alternative medicine which is pay out of pocket anyway. I am med free and have not seen a doc for years other than an occasional physical.

    1. that is about what we pay for the two of us and then have deductible and co pay.

  4. If your last Jan budget was $8800 for the month, then you folks are netting over $100,000 per year. Yet neither of you are working. Do your pensions add up to this? If this is all draw down from savings then you have done spectacularly since your bankruptcy just a few years back.

    1. Yes Hubby's pension and 401K hold up to it. I was self employed so I paid the bills while his money went in to the retirement that was matched by his employer. Yes I rebuilt the savings and yes We did spectacularly in rebuilding our credit in a year from the bankruptcy. Key there is car loan,mortgage and credit card never used over 30 percent of credit line and paid in full the week before it's due.